Steel

Electra Aims to Revolutionize Steel Industry with $129 Million Fundraising for Green Steel

27 days ago

In a significant move to transform the steel manufacturing landscape, Colorado-based Electra has launched a capital-raising initiative to secure $129 million. This groundbreaking funding is intended to drive the production of eco-friendly steel, a critical step towards achieving more sustainable industrial practices and reducing carbon emissions.

British Steel Abandons Redundancy Plans Following Government Intervention

29 days ago

In a significant turnaround for the UK’s steel industry, British Steel has announced the cancellation of its planned redundancy measures. This decision comes in the wake of a crucial government rescue package aimed at revitalizing the struggling steelmaker and securing jobs across its operations.

POSCO Partners with Hyundai for $5.8 Billion Steel Mill Project: A Move Celebrated by Trump

1 month ago

In a significant development for the steel industry, South Korean conglomerate POSCO has joined forces with Hyundai Steel in an ambitious $5.8 billion steel mill project. This partnership comes at a time when the American manufacturing sector is keen on revitalization, and the news has generated considerable enthusiasm, notably among U.S. political figures, including former President Donald Trump.

Chinese Steel Production Soars Despite Beijing's Promises to Cut Output

1 month ago

In a surprising twist within the global steel market, Chinese steel production has surged markedly, defying the expectations set forth by the Chinese government's commitment to reduce output. Recent reports indicate that while the nation has pledged to cut down on steel production to meet environmental goals, the reality on the ground tells another story.

UK Appoints New Leadership for British Steel Amid Supply Chain Pressures

1 month ago

In a significant development for the UK’s steel industry, the government has announced the appointment of a new executive leadership team at British Steel. This decision comes as the country maneuvers through increasing pressures on material supply chains, which have been exacerbated by both economic conditions and geopolitical tensions. The newly appointed leaders will be tasked with steering the company towards a more sustainable and resilient future.

UK Government Raises Trust Bar for Chinese Investment After Steel Industry Rescue

1 month ago

The United Kingdom is setting higher standards for foreign investments, particularly from Chinese companies, following a government-backed rescue of a critical steel producer. This move reflects a broader strategy to ensure that investments align with national security interests, particularly in essential industries.

UK Parliament Engages in Heated Debate Over Ministerial Control of British Steel

1 month ago

In a pivotal session, UK Members of Parliament (MPs) convened to deliberate a controversial new law aimed at granting significant control of British Steel to government ministers. The proposed legislation has sparked intense discussions surrounding its implications for both the steel industry and the broader economic landscape in the United Kingdom.

UK Parliament Recalled to Debate the Nationalization of British Steel Amid Economic Concerns

1 month ago

In a remarkable turn of events, the UK Parliament has been urgently recalled from its recess to hold discussions regarding the potential nationalization of British Steel. The unprecedented move follows mounting concerns about the future of the beleaguered steel industry in Britain, amid plummeting prices and operational challenges faced by major companies in the sector.

EU Sets Plans for 90-Day Tariff Freeze with U.S. Amid Trade Tensions

1 month ago

In a recent announcement, European Union officials expressed their intention to fully leverage the upcoming 90-day pause on U.S. tariffs on steel and aluminum products. This move comes as a strategic opportunity for the EU to negotiate and address ongoing trade disputes with the United States.

EU Imposes Tariffs on $21 Billion of U.S. Goods Amid Ongoing Metals Dispute

1 month ago

The European Union has officially enacted new tariffs affecting approximately $21 billion worth of U.S. goods, continuing a long-standing dispute over steel and aluminum imports. This significant move by the EU is a direct response to the tariffs previously imposed by the United States during the Trump administration, which classified European steel and aluminum as threats to national security.